Freehold commercial shophouses at Jalan Besar going for $17.5 mil
By Timothy Tay
/ EdgeProp Singapore |
The interior of the shophouses features a column free layout between the two adjoining units. (Picture: Huttons Asia)
SINGAPORE (EDGEPROP) - A pair of adjoining freehold commercial shophouses at Jalan Besar is up for sale in an expression of interest (EOI) exercise. The properties have a guide price of $17.5 million, and they are currently marketed by Huttons Asia.
The pair of two-storey-plus-attic shophouses sit on a total land area of 2,617 sq ft, and they have an existing built-up area of 7,036 sq ft. The land is zoned for commercial use under the 2019 Master Plan. (Find Singapore commercial properties with our commercial directory)
This means that foreigners and locals are eligible to purchase the properties, and additional buyer’s stamp duty is not applicable for the sale.
According to a press release by Huttons Asia, the two shophouses are close to Farrer Park MRT Station on the North-East Line, and Bendemeer MRT Station on the Downton Line.
“The two adjoining units have a very efficient column-free layout, allowing operators to maximise the use of the interior, and they also have a high ceiling of about 4.5 metres,” says Jeremy Lim, senior group district director at Huttons Asia. He adds that the shophouses would be suitable for use as a gym, showrooms, or offices.
A graph showing transactions and overall market trend for freehold shophouses in the Kallang Planing area. Compiled using EdgeProp's research tools. (Credit: EdgeProp Singapore)
“The demand for and popularity of conservation shophouses have increased tremendously over the past three years among investors and family offices. Interest has shifted to areas like Jalan Besar as the prices are seen as more reasonable,” says Lee Sze Teck, senior director of research at Huttons Asia.
The EOI exercise closes on Sept 7.
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